MARKETS CLOSE: Stocks jump as economies continue to recover

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CLOSED MARKETS: The FTSE 100 closes above 6,000 watermarks after a surge in stocks as economies continue to recover

The FTSE 100 climbed above 6,000, closing 4.3% more on new hopes for a Covid-19 vaccine and further economic stimulus in the United States.

The benchmark rose 248.82 points to 6,048.59 while the FTSE 250 rose 569.26 points or 3.6% to 16,230.03.

Oil prices also climbed, supported by lower production and signs of a gradual recovery in demand as restrictions on the coronaviruses are eased.

Brent crude oil, the global benchmark, rose $ 2.76, or 8%, to $ 35.26 per barrel, while U.S. crude rose $ 3.38, or 11.5%, to $ 32.81.

In the company news, Ryanair shares jumped more than 15% after announcing an after-tax profit of 1 billion euros for the year to March 31 and declaring that they would overcome the coronavirus crisis thanks to a solid balance sheet.

EasyJet and BA owner IAG also saw their shares increase by more than 10%.

Elsewhere, the British pound climbed to its lowest level in two months against the dollar and the euro today, as the weak dollar helped the currency ignore the Bank of England’s negative interest rate talks and deadlock in Brexit negotiations.

The British pound was $ 1.22 against the dollar and E1.12 against the euro.

Resumption of the FTSE: the benchmark index is still far from its peaks at the start of the year, but has still crossed 6000

Resumption of the FTSE: the benchmark is still far from its peaks at the start of the year, but has still crossed 6000

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